Brokerages forecast that Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) will post sales of $715.35 million for the current quarter, Zacks reports. Two analysts have issued estimates for Gildan Activewear’s earnings, with estimates ranging from $696.30 million to $734.40 million. Gildan Activewear reported sales of $653.70 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The business is scheduled to report its next quarterly earnings results on Thursday, February 28th.
According to Zacks, analysts expect that Gildan Activewear will report full-year sales of $2.88 billion for the current year, with estimates ranging from $2.86 billion to $2.89 billion. For the next financial year, analysts expect that the company will report sales of $3.01 billion, with estimates ranging from $2.99 billion to $3.03 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Gildan Activewear.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, November 1st. The textile maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01. The firm had revenue of $754.40 million during the quarter, compared to analysts’ expectations of $759.15 million. Gildan Activewear had a return on equity of 18.80% and a net margin of 12.28%. Gildan Activewear’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.53 earnings per share.
GIL has been the subject of several research reports. Raymond James reaffirmed a “strong-buy” rating and issued a $40.00 target price on shares of Gildan Activewear in a research report on Friday. Desjardins raised Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada increased their price objective on Gildan Activewear from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Friday, August 3rd. Zacks Investment Research lowered Gildan Activewear from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Finally, ValuEngine upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $34.25.
A number of institutional investors have recently added to or reduced their stakes in GIL. Opus Capital Group LLC increased its stake in shares of Gildan Activewear by 94.6% in the third quarter. Opus Capital Group LLC now owns 16,481 shares of the textile maker’s stock valued at $502,000 after buying an additional 8,013 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Gildan Activewear in the third quarter valued at $448,000. Nissay Asset Management Corp Japan ADV increased its stake in shares of Gildan Activewear by 79.0% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 28,194 shares of the textile maker’s stock valued at $858,000 after buying an additional 12,446 shares in the last quarter. Financial Architects Inc acquired a new stake in shares of Gildan Activewear in the third quarter valued at $293,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Gildan Activewear by 12.9% in the third quarter. Russell Investments Group Ltd. now owns 45,759 shares of the textile maker’s stock valued at $1,378,000 after buying an additional 5,231 shares in the last quarter. Hedge funds and other institutional investors own 70.76% of the company’s stock.
GIL stock traded down $0.42 during midday trading on Thursday, hitting $31.10. The stock had a trading volume of 652,207 shares, compared to its average volume of 500,533. The stock has a market cap of $6.45 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.43 and a beta of 0.72. Gildan Activewear has a 52 week low of $25.33 and a 52 week high of $34.19. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.94 and a quick ratio of 1.79.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.085 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.34 annualized dividend and a yield of 1.09%. Gildan Activewear’s dividend payout ratio is currently 26.16%.
About Gildan Activewear
Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.
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